CyberArk Software (NASDAQ:CYBR) Trading Up 3.9% – What’s Next?

Shares of CyberArk Software Ltd. (NASDAQ:CYBRGet Free Report) shot up 3.9% during trading on Tuesday . The stock traded as high as $332.02 and last traded at $331.91. 289,410 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 510,622 shares. The stock had previously closed at $319.60.

Wall Street Analyst Weigh In

CYBR has been the subject of several analyst reports. BTIG Research lifted their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler lifted their price target on shares of CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Truist Financial reissued a “buy” rating and set a $350.00 price target (up previously from $300.00) on shares of CyberArk Software in a research report on Thursday, November 14th. Susquehanna lifted their price objective on CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, UBS Group increased their target price on CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $339.22.

Check Out Our Latest Report on CyberArk Software

CyberArk Software Trading Up 4.2 %

The company’s 50-day simple moving average is $310.09 and its 200-day simple moving average is $286.03. The stock has a market capitalization of $14.52 billion, a price-to-earnings ratio of 1,233.93 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBRGet Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The business had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. During the same period in the prior year, the business posted ($0.31) earnings per share. CyberArk Software’s quarterly revenue was up 25.6% on a year-over-year basis. On average, equities research analysts expect that CyberArk Software Ltd. will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of CyberArk Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYBR. Ensign Peak Advisors Inc acquired a new position in shares of CyberArk Software in the 2nd quarter worth approximately $711,000. HighTower Advisors LLC lifted its holdings in CyberArk Software by 16.6% in the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after buying an additional 2,062 shares during the period. Sycomore Asset Management boosted its position in CyberArk Software by 36.6% during the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock valued at $15,973,000 after acquiring an additional 16,294 shares during the last quarter. Groupama Asset Managment grew its holdings in CyberArk Software by 0.5% during the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after acquiring an additional 5,402 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after purchasing an additional 9,570 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

About CyberArk Software

(Get Free Report)

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sells software-based identity security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager, which offers risk-based credential security and session; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide secure access to third-party vendors; Dynamic Privileged Access, a SaaS solution that provides just-in-time access to Linux Virtual Machines; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Secure Desktop, a solution that protects access to endpoints.

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